Help Need Creative Financing Help
ok Here is my dilemma, I am new to this and so my last post got deleted due to my caps (sorry) 
I have a property and my client gifted over the equity in the house, I am new to this so I am just getting my feet wet.
She signed over the equity in her house to secure my loan as a down payment, now the original loan I applied for was for 62,000 shes getting 4,000 back and I am getting 15,000 in repairs (needs every bit of it) plus my contract reads seller pays for all costs assoicated with this sale However I factered that in my equasion We did some cosmetic work to make sure the poperty appraised and it did, however my loan amount is showing on my preliminary title as 76,500 The only reason that I am using it as an ivestment is becasue right in back of it are 500,000 houses so I know them people do not want to look outback and see a ghetto I know something is going to happen in this place but not for a while. 76,500 that is more than the house is worth and higher than my appraisal can someone PLEASE explain this? [ Edited by espazz224 on Date 06/13/2005 ]
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